LOLP and LOLE continued

LOLE is the expected number of days per year for which available generating capacity is insufficient to serve the daily peak demand or the hours per year where capacity is insufficient to serve hourly load

LOLE is measured in days/year when it represents a comparison between daily peak values and available generation

LOLE is measured in hours/year when it represents a comparison of hourly load to available generation

LOLP is the proportion in % (probability) of days per year, hours per year, or events per season that available generating capacity/energy is insufficient to serve the daily peak or hourly demand

LOLE & LOLP are methodologies that use probabilistic methods to capture the effect of uncertain parameters such as forced outages, unusual load conditions or hydro conditions on the ability of deliverable generation to meet load; the other major approach is to use deterministic methods and perform scenario analyses